Seattle Mayor Greg Nickels has released what he calls a "plan" to pay for the viaduct tunnel. The Times: "Mayor finds $2.6 billion more to pay for viaduct tunnel plan". On closer inspection, this "plan" assumes funding sources that don't exist yet.
Posted by Stefan Sharkansky at June 23, 2006 09:36 AM | Email ThisWell, if that's true, this tunnel idea sounds like another thing they should pay for. After, us barbarians in Pierce County are going to have to pay a toll for the new Narrows Bridge.
Posted by: Libertarian on June 23, 2006 10:01 AMSo, with all these rebates going around, who is paying the freight? It is just a convenient way to circumvent the voters.
Safeco Field and the bajillion of other venues- Lynnwood, Everett, Bellingham?, Bellevue? and Richland?- were all recipients of these giveaways.
NASCAR is also going to get rebates for the new roads and stadium.
Again, who is going to pay for all these rebates? Especially when Sound Transit grabs more and more of my money.
Posted by: swatter on June 23, 2006 10:09 AMWherever you live, hold onto your wallet!
Posted by: Misty on June 23, 2006 10:12 AM$176 million in sales-tax rebate. This means all the sales tax on materials and labor for the project would be forgiven, assuming the State Legislature agrees, and the lost taxes would be credited to the project.
Sooooo....the city of Seattle elicits the best kept secret in transportation projects, that being the slush fund the state government uses every major transportation project for to fund all of their little pet projects in the general fund. Where's our sales tax rebate on the rest of the $9 billion in projects we're paying for?
Posted by: Palouse on June 23, 2006 10:20 AMBut wait, there's more. This schmuck's track record has an even blacker mark of dishonor. He was the jerk who signed the "Statement For" the monorail proposition put before voters in 2002. Those false rosy predictions about how there was ample money to pay for a monorail system also were woefully low.
He says he's been carefully counting his calories -- that should give you an idea of whether Nickels understates numbers or not.
Posted by: remember, or you're doomed to repeat it on June 23, 2006 10:30 AMFunds? There are no funds....it's all BS.
This is one of the reasons I do not spend any of my $$$ in King County.
Posted by: Jack Burton on June 23, 2006 10:48 AMRemember, little Joel Horn was all upset when the vehicle revenues for the monorail didn't match projections. He was absolutely convinced everyone in Seattle was registering their car outside of city limits. The same silly "logic" is going to apply to the "value" of the views that Mayor Dunderhead wants to tax.
Does anyone know if the group that did this latest "Yes, your higness, the money is there" study is the same one that did the Lake Union project for the Paul Allen contract?
In a baffling move, the Gov. appointed attorney Rodney Brown as the expert on law and public financing for this expert review panel. Rodney Brown would not know a public finance debacle if it bit him in the butt. This clown was tripping all over himself with enthusiasm after the Seattle Monorail Project ballot measure passed – see below. He thought SMP was financed extremely well, and in short order there would be monorails whooshing over our region.
Given the track records of Nickels and Brown, we can be sure that the financing of these megaprojects will be a financial train wreck far worse than the abject disaster that is Seattle Monorail.
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Wednesday, February 05, 2003 - 12:00 a.m. Pacific
Guest columnists
Fulfilling the vision of the Seattle monorail
By Judith Runstad, Steve Williamson and Rodney Brown
Special to The Times
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IN 18 months, the Seattle Monorail Project will break ground on its new 14-mile Green Line. It will be the first leg of a system that will provide 69,000 trips a day from Ballard and West Seattle to downtown, tying together some of the city's most important destinations, such as KeyArena, Belltown, downtown, the Pike Place Market, King Street Station, Safeco Field and Seahawks Stadium.
Monorail construction will generate more than 2,100 jobs per year for five years and the project will create a cost-effective alternative to traffic congestion.
The vote on the Seattle Monorail Project was a close vote. But now all of us, inside and outside of government, have a shared responsibility to work to overcome public cynicism about our government's ability to perform. It is time for all of us to prove to our voters that we are worthy stewards of their trust.
Much is riding on the success of the Seattle Monorail Project, and its success depends on the actions of its staff and board, the City Council and the state Legislature. We are writing to urge that we each do our part to keep the project on time and within budget. If we all work together, we can avoid the pitfalls of the past.
• We urge the Legislature to clarify the monorail's authorizing legislation to do what the voters approved.
Seattle's measure imposed a tax and states that the monorail must honor any outstanding financial obligations should voters choose to stop the project in the future. The Legislature is being asked to make the authorizing language consistent and close the tax-evasion loophole for those residents who try to avoid paying taxes by registering their cars outside the city. These minor changes could save taxpayers $100 million to $400 million in interest costs over the life of the bonds.
• We urge the Seattle City Council to deliver timely and thorough decisions for the project.
Last year, the council showed leadership in providing thoughtful and timely decisions that strengthened the planning for the Seattle monorail. There are a number of agreements between the city and the monorail that need to be complete this year. The city's own risk analysis estimates that each month of delay costs at least $3 million in increased costs. The council must find the balance between its own due diligence and the voters' desire to have the monorail stay on schedule.
• We urge the staff and board of the monorail to keep their eye on the ball.
The project has made great progress to date. They are charged with an ambitious schedule and must comply with built-in accountability mechanisms to assure that the system breaks even by 2020 — a standard set by the current monorail as well as Vancouver's SkyTrain. We are confident this goal can be met, but it will require creativity and discipline, prudence and urgency.
There are many difficult decisions ahead, but a successful monorail will be a true asset to our city.
Those who want the public to support other transportation initiatives must understand that the public will be reluctant to vote for additional transportation investments if the project does not succeed. It will move people, create jobs and support our environment. And it will do it in a way that is uniquely Seattle.
In December 2007, the first section of the Green Line will be in full service. We all share the challenge to step up to fulfill the vision of the best possible monorail system for our city. We are all responsible for the success of the monorail.
Judith Runstad co-chairs the Washington Competitiveness Council and is of counsel to Foster, Pepper & Shefelman. The Seattle law firm is doing work on the monorail project's environmental-impact statement. Steve Williamson is executive secretary/treasurer of the King County Labor Council. Rodney Brown is an environmental attorney and was a member of the Governor's Blue Ribbon Commission on Transportation. He was the principal author of Washington's Superfund law and the Model Toxics Control Act.
Copyright © 2003 The Seattle Times Company
The other big problem with DOT is the 'prevailing wage' law that our legislature passed at the behest of the unions. The DOT can't hire contractors that don't pay their employess some minimum wage. The state shouldn't give a whit about what a contractor pays its employess. It should care about quality and cost. Nothing else. That tunnel (and the rest of our roads) might cost half what they do except for this law.
Posted by: mykela on June 24, 2006 09:11 AMIf I owned a business in Seattle that was dependent upon road based transportation, I would move to the eastside of the county or elsewhere. The it appears that Seattle is doomed to several years of overwhelming congestion unless the viaduct is reapired rather than replaced.
Posted by: Paddy on June 26, 2006 10:30 AM